Foreign trade turnover reaches USD 11.6 billion in Mongolia

AKIPRESS.COM - In the first 10 months of 2019, Mongolia traded with 148 countries from all over the world and total trade turnover reached USD 11.6 billion, of which USD 6.5 billion were exports and USD 5.1 billion were imports, Montsame reports.
In October 2019, exports and imports reached to USD 582.6 million and USD 465.7 million, respectively. Compared to the previous month, exports increased by USD 23.6 million and imports decreased by USD 41.8 million.
Total foreign trade turnover increased by USD 772.8 (7.1%) million, of which exports increased by USD 583.9 million (9.8%) and imports increased by USD 189.0 million (3.9%) compared to the same period of previous year. In the first 10 months of 2019, foreign trade surplus reached USD 1.5 billion, which increased by USD 394.9 million from USD 1.1 billion in the same period of 2018.
In October 2019, foreign trade surplus reached to USD 116.9 million. Compared to the previous month, foreign trade surplus increased by USD 65.4 million.
The 583.9 million increase in exports from the same period of previous year was due to the increases of USD 309.2 million in bituminous coal and USD 199.8 million in gold, unwrought or in semi-manufactured forms exports.
The USD 189.0 million increase in imports from the same period of previous year was mainly due to USD 32.9 million increase in mineral products imports, especially, USD 89.3 million increase in diesel imports and USD 171.9 million increase in transport vehicles and its spare parts.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewelry made up 95.8 percent of total export. On the other hand, 68.2 percent of imports was mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.